Can You Deposit Cash in an ATM & How Does It Work?

Automated Teller Machines (ATMs) have become a common part of modern banking, offering a convenient way to manage finances outside traditional bank hours. Among their many functions, the ability to deposit cash directly into an account is a widely used feature. This allows individuals to add funds to their accounts quickly and efficiently without needing to visit a bank branch or interact with a teller.

Capabilities of ATMs for Cash Deposits

While many ATMs facilitate cash deposits, this capability is not universal. Acceptance primarily depends on the ATM’s ownership and technological features. ATMs owned and operated by your specific bank are most likely to accept cash deposits. Conversely, third-party or network ATMs may not offer cash deposit services unless they have a specific partnership with your bank.

Some ATMs are equipped with advanced “cash accepting” or “smart” technology, allowing them to count and verify bills directly. These modern machines eliminate the need for deposit envelopes and often provide immediate on-screen confirmation of the deposit amount. To determine if an ATM accepts cash deposits, check your bank’s website or mobile app for an ATM locator with filtering options. Many ATMs that accept cash deposits will also display clear signage.

Process for Depositing Cash

Depositing cash at an ATM involves a straightforward series of steps. Begin by inserting your debit card and entering your Personal Identification Number (PIN) to access your account. After logging in, select the deposit option from the menu.

Choose “cash” as the deposit type. The ATM will then instruct you to insert your bills into a designated slot. Modern machines count the cash automatically. Organize your bills neatly, ensuring they are not folded or crumpled, to facilitate accurate counting. After the ATM counts the cash, it will display the total amount for your review and confirmation. Once confirmed, the transaction is processed.

Key Information for Depositing Cash

Financial institutions impose daily or per-transaction cash deposit limits, which vary by bank and ATM. While some ATMs might not cap the total deposit amount, they may limit the number of bills accepted in a single transaction, such as 40 bills. This means a deposit could range from $40 to $4,000 depending on the denominations. Consult your bank’s policy for specific limitations.

Funds deposited via ATM may not be immediately available for use, as banks commonly place holds on deposits. The Expedited Funds Availability Act (EFAA) regulates these hold periods, generally requiring cash deposits made at a proprietary ATM to be available by the next business day. If the deposit is made at a non-proprietary (out-of-network) ATM, funds may take longer, potentially up to five business days, to become available. Banks may also extend holds for larger deposits, typically exceeding $5,000, or for new accounts. Always retain the ATM receipt as a record of your transaction should any discrepancies arise, and count your cash accurately before inserting it to ensure the machine’s count matches your intended deposit.